Why trademarks are a must-have for any business owner
What you need to know (in a nutshell)
- Trademarks are valuable assets for businesses because they boost brand identity and differentiate products and services.
- Businesses should take steps to prevent competitors from using their trademarks in the same way to protect their reputation and goodwill.
- In order to qualify for protection, trademarks must be registered with IPAustralia and meet certain requirements, including not being too similar to other trademarks in the same class. Trademark registration gives businesses the sole right to use their trademarks in relation to specific classes of goods or services.
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Most are familiar with the concept of a “trademark” and associate it with the ownership of logos.
People often think trademarks are of no use to smaller, day-to-day businesses. In fact, a trademark can be very useful for such smaller businesses. It reinforces their brand and sets them apart from others in the same field.
Ensure competitors don’t imitate your logo or phrase to identify the same goods and services you offer. Your trademark is a symbol of trust and quality that reflects positively on your business; hence, misuse could be detrimental. Customers can rely upon it as assurance all products with the mark will provide consistent quality.
To secure legal protection, a trademark usually needs to be registered with Australia’s Government agency that administers intellectual property, IPAustralia. If it meets the requirements of being classified as a “mark”, then registration is possible. However, eligibility does not guarantee success; trademarks that are too similar to existing ones or those considered misleading/misinforming will not be accepted for registration.
Registration of a trademark grants exclusive use for the goods and services within the 45 classes. It’s important to register your trademark for all applicable products and services you offer or intend to, so that you have maximum protection.